Royal Gold Inc was incorporated under the laws of the State of Delaware on January 5, 1981. The Company together with its subsidiaries is engaged in the business of acquiring and managing precious metals royalties and similar interests. It is engaged in a continual review of opportunities to acquire existing royalties, to create new royalties through the financing of mine development or exploration, or to acquire companies that hold royalties. The Company uses evaluation stage to describe exploration stage properties that contain mineralized material and on which operators are engaged in the search for reserves. It competes with other royalty and streaming companies, mine operators, and financial buyers in efforts to acquire existing royalty interests, and with the lenders and investors providing financing to operators of mineral properties. The Company's business is subject to the environmental laws and regulations promulgated by federal, state and local governments.